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Who's on first? You may be private equity. I'm David Brancaccio. The San Francisco Giants are selling a 10% stake to a private equity firm.

It's now all major sport leagues in the U.S. that allow those institutional firms to buy pieces of teams.

Marketplaces Henry Epp has more on how watching pro games now is also like watching private equity in action.

Historically, major sports teams in the U.S. have each been owned by one really rich person or family.

And the only way for them to cash in on their investment has been to sell the whole team.

But as the value of sports teams has risen, Tim Koba at High Point University says owners have realized that selling off part of their stake in a team.

It is a way for existing owners to capitalize on the rising valuations of their clubs.

And right now, private equity firms are willing buyers.

Essentially, they're buying into people's passions.

Stefan Sheminski is at the University of Michigan.

Because fans are so passionate about their teams,

they're willing to sink a lot of money into watching and supporting them.

And private equity, Sheminski says, sees a revenue opportunity.

What they're trying to do is trying ways to extract more of the financial value

of that happiness from the fans.

By raising ticket prices, he says, or finding new ways to reach and charge the financial value of that happiness from the fans.

By raising ticket prices, he says,

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